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1 <br /> <br />ECONOMIC DEVELOPMENT ADVISORY COMMITTEE <br />AGENDA ITEM 3A <br /> <br /> <br />STAFF ORIGINATOR: Michael Grochala, Community Development Director <br /> <br />EDAC MEETING DATE: April 7, 2022 <br /> <br />TOPIC: ED Strategic Plan Implementation <br /> P4: Redevelopment/Strategic Acquisitions <br /> <br />BACKGROUND <br /> <br />As part of the EDAC’s February 3, 2022 discussion, staff was requested to prepare a map of city <br />owned property. The City owns approximately 276 parcels. The City’s Economic Development <br />Authority owns 14. The majority of these parcels are used for public purposes including <br />buildings, utilities, and parks. <br /> <br />Nine parcels owned by the EDA and two under City ownership are available for purchase and <br />development. <br /> <br />Lake Drive and 77th Street. <br /> <br />The City owns 2 acres on the corner of 77th Street and Lake Drive. The Lino Lakes Economic <br />Development Authority purchased lots 12-16, Block 2, Carole’s Estates as part of a Public Safety <br />complex including construction of a new Fire Station in 1990. The properties were transferred to <br />the City as part of the project financing. In 1999, following completion of the Civic Complex, <br />the City sold the former Police Station (Lot 15) to the American Legion. In 2017, the City sold <br />an additional one acre parcel (Lot 14) to the American Legion to facilitate a parking lot <br />expansion. The County’s estimated market value is $203,000. <br />The property is zoned GB, General Business District, which is the City’s most intense <br />commercial district. The City entered into a purchase agreement with Vaquero Ventures in 2020 <br />with a price of $530,000, but the sale did not close. The site will be used for community gardens <br />on an interim basis until sold. <br /> <br />Woods Edge Property <br /> <br />The City’s Economic Development Authority (EDA) owns approximately 9.5 acres within the <br />Legacy at Woods Edge Development adjacent to the Civic Complex. The property was sold to <br />Hartford Development in 2005 for development of a Town Center. The developer was <br />foreclosed on in 2009 and the property was tax forfeit shortly after. The EDA obtained the 20 <br />acres from the State through special legislation in 2011. <br /> <br />The property is zoned PUD, Planned Unit Development and allows for both commercial and <br />multi-family residential uses at 10-24 units per acre. 10 acres of the site was sold to DR Horton <br />for development of the 112 unit Woods Edge neighborhood in 2015.